Seoul jeonse hits record 681.5M won; weekly +0.23% revives rental-crunch fears

Average Seoul apartment jeonse reached 681.5 million won, or about $468,000, in April, the highest since records began. In the first week of May, jeonse prices rose 0.23% week over week, the largest gain since November 2015, while sale prices also climbed 0.15%. The May 9 expiration of the capital-gains-tax surcharge suspension for multi-home owners is raising concerns that listings will lock up further.